Med Gen Revenue Reaches 3 Year High
Med Gen Inc. (OTCBB:MGEN) (?MGEN?), manufacturers of nationally branded OTC healthier life products and financial services, reports unaudited revenue as of July 21, 2007 of $1,650,000, an 850% gain over the previous year to date numbers. Monthly, unaudited revenue as of July 21, 2007 was $252,658, a 3000% increase when compared to same month year ago comparisons.
In answer to Shareholder concerns about the declining stock price, Mr. Kravitz, Chairman & CEO discussed the dilution effect of note/debt conversion to shares by its lender. ?Yet,? he said, ?the conversions by itself should not effect the stock so dramatically since the estimated actual market value of the company should be nearer to $0.02 per share and thus very much undervalued. A review of peer companies in similar businesses can support an even higher valuation.? ?The solution to the declining stock price is threefold,? Mr. Kravitz said. ?First, we must attract new investors/buyers to counter the selling. Second, we must pay off or pay down the debt and lastly we must increase revenues. In repeated letters and releases we have indicated that we are acting on all three of these issues and will continue to do so. Most importantly, the company has had four positive operating months in a row and expects to continue to report growth in revenues when it files its quarterly report before August 15th. These positive signs do not indicate a company in decline.? About Med Gen Inc.
Med Gen Inc., in business since 1996, manufactures and markets specialty products using its proprietary delivery system Spray?s the Way (?STW?). It is best known for producing the world?s first patented liquid spray snoring relief formula, Snorenz®. Since its existence, Med Gen has continued to develop its STW technology, introducing Good Nights Sleep® and the UnDiet® system into its family of brands. While STW technology is mainly used, the company also produces other products that deal with common health issues using other delivery systems. Recently, the company formed a joint venture to market FootFridge®, an innovative and patented innersole, that amongst other attributes, cools and comforts the feet. The company markets its products to distributors, major chain and drug stores, direct sales via the company web site and direct to consumer television, radio and print advertising. The company also distributes its brands internationally under various private labels or existing names. The Company also offers specialty services to small emerging public companies in similar fields as a way of adding assets to its base business.
Med Gen Inc. is a fully reporting company whose stock trades on the OTCBB under the symbol ?MGEN?. For information contact Investor Relations 561-750-1100 or www.medgen.com.
This Press Release contains or incorporates by reference forward-looking statements including certain information with respect to plans and strategies of Med Gen Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words ?believes?, ?suggests?, ?anticipates?, ?plans?, ?expects?, and similar expressions are intended to identify forward-looking statements. There are a number of events or actual results of Med Gen operations that could differ materially from those indicated by such forward-looking statements.
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